Iovance Q2 net loss narrows
IOVA•Outlook
- Company is reviewing FY26 revenue guidance of $350 mln to $370 mln; update expected in 3Q26
- Iovance expects improvements in gross margin to continue, excluding occasional one-time items
- Company expects at least 110 authorized treatment centers active by end of 2026
Overview
- U.S. TIL therapy maker's Q2 revenue rose 66% yr/yr to a record high, driven by Amtagvi demand
- Q2 net loss, operating loss and pretax loss all beat analyst expectations
- Gross margin improved to 56% on higher Amtagvi sales and manufacturing efficiencies
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | $99.31 mln | ||
| Q2 Net Loss | Beat | $47.32 mln | $57.64 mln (7 Analysts) |
| Q2 Operating Income | Beat | -$51.91 mln | -$59.66 mln (6 Analysts) |
| Q2 Pretax Loss | Beat | $48.69 mln | $59.77 mln (7 Analysts) |
Analyst coverage
- The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
- The average consensus recommendation for the biotechnology & medical research peer group is "buy"
